The ATO is DEREGULATED REVENUE is now INVISIBLE
http://media.smh.com.au/news/federal-politics/tax-attack-5830375.html
Bill Shorten accuses the government during Tuesday’s question time of going soft on corporate tax avoidance; All Tony Abbott could say is Labor did nothing in government. Is that his justifcation. Staff will be need to be increased to supervise his welfare cuts.
The Abbott government was warned that the Australian Tax Office was ill-equipped to tackle a potential multibillion-dollar international tax dodge as it prepared to cut 3000 ATO staff.At a time when Treasurer Joe Hockey is touting Australia’s efforts in conjunction with the G20 to close international tax loopholes, the Tax Office no longer has a dedicated team to fight the problem.
The irony of it all the ATO’s most experienced staff in tracking international profits have moved to the big four accounting firms, where they now advise the nation’s biggest companies on how to minimise their tax. Furthermore they have left without passing on their knowledge, Good one Mr Abbott
Mr Hockey has been accused of
“hectoring the ATO” to clamp down on multinational profit shifting and tax avoidance.
“But at the same time he has gutted the workforce that would actually deliver on that. By cutting over 3,000 tax officers, the Abbott government has allowed decades’ worth of experience in this highly specialised area of tax law to just walk out the door,” he said.
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